As we can see despite the multiple tries of short-covering! Bears always takes over, showing strong bearish bias. Also 22200 level has been tested multiple times, making the level weak. Additionally, we can see a Head and shoulders structure in bigger time frame which could add fuel to the fire. Hence, if NIFTY couldn’t hold itself above 22200 and 22000 level which is a psychological level, then we may see NIFTY showing another strong unidirectional fall toward 21500-21000 levels. So, plan your trades accordingly and keep watching everyone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.